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MCX crude oil seems sluggish. Modest growth of 0.1 per cent with crude oil is trading at Rs 5350. As crude oil rises and foreign money flows into India, equities rise sharply in absolute and relative terms. The currency and interest rates gain too. However, the longer and sharper the crude oil rises, India first under performs and then falls.
Crude Oil Support and Resistance
Support for the Crude oil is 5306-5252-5126-5103-5090-5089.
Immediate resistance for Crudeoil is 5432
Crude Tips today 6 March
MCX Crude oil (March futures): Sell - 4380-4390, stoploss of Rs - 4550 and the target - 4300
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